Dogecoin Drops Sharply From the $0.076 High but Holds above $0.066
Login

Dogecoin Drops Sharply From the $0.076 High but Holds above $0.066

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Dogecoin’s (DOGE) price is in a downward correction as it holds above $0.066. On July 20, the altcoin rallied to the high of $0.076 but dropped sharply. DOGE price has fallen above the moving average lines as bears attempt to sink the coin below it. On the downside, if the bears break below the moving average lines, the market will decline to the low of $0.06. However, if the DOGE price holds above the moving average lines, a fresh uptrend is likely to resume.

Dogecoin Drops Sharply From the <img fetchpriority=.076 High but Holds above Dogecoin Drops Sharply From the $0.076 High but Holds above $0.066.066" width="1047" height="537" data-lazy-src="https://learn2.trade/wp-content/uploads/2022/07/DOGEUSDDily-Chart.png"/>
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
Dogecoin is at level 50 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. DOGE price bars are above the moving average lines indicating a possible rise of the coin. The 21-day line SMA and the 50-day line SMA are sloping southward indicating the downtrend.

DOGE/USD Medium-term bias: Bearish
On the 4– hour chart, the DOGE price is in a downtrend. It is declining from the $0.075 high. Meanwhile, on July 21downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that the DOGE price will fall at level 1.618 Fibonacci extension or level or $0.061 price level.

Dogecoin Drops Sharply From the <img decoding=.076 High but Holds above Dogecoin Drops Sharply From the $0.076 High but Holds above $0.066.066" width="1047" height="537" data-lazy-src="https://learn2.trade/wp-content/uploads/2022/07/DOGEUSD_2022-07-22_04-23-34.png"/>
DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 20% range of the daily stochastic. It indicates that the coin has reached the oversold region of the market. The selling pressure has reached bearish exhaustion. The 21-day line and 50-day line moving averages are sloping upward indicating the uptrend.

General Outlook for Dogecoin
Dogecoin has broken into the bullish trend zone as it holds above $0.066. The coin is holding above the moving average lines for a possible upward move.


You can purchase crypto coins here: Buy LBlock

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News